Molasses market in Western Asia

Earlier Report Observations

The molasses market volume in Western Asia rose steadily from 1 302.2 thousand tons in 2018 to 1 448.8 thousand tons in 2020, marking a total increase of over 11% across the three-year period. This growth was accompanied by a similar trend in domestic production, which peaked at 960.2 thousand tons in 2020.

A sharp turnaround occurred in 2021, when the market contracted by nearly 33% to 975.9 thousand tons. Although it rebounded to 1 224.5 thousand tons in 2022, the volume eased again in 2023, settling at 1 170.3 thousand tons. Import levels showed considerable volatility throughout, while exports remained relatively modest.

Production molasses in Western Asia

In kind, 2017-2020, K t

Top producers of molasses, 2017-2020

World map of production of molasses, 2017-2020

Molasses production in Western Asia has increased for the second year in a row. In 2020, the region produced 960.2 K t of molasses, marking a modest rise of 5.6% compared to the previous year. Looking at the period from 2017 to 2020, production grew by 8.6%, which translates to an average annual increase of 2.8%. The lowest production level was recorded in 2018 at 821.6 K t, when output fell by 7.1%. In contrast, the largest increase occurred in 2019, with production jumping by 10.7%.

Annual dynamics of production in Western Asia in kind, 2017-2020, K t

Exports molasses from Western Asia

Exports in kind, K t

The export market for molasses from Western Asia showed significant volatility during these years. Exports reached their lowest point in 2019 at 13.9 K t, which represented a sharp decline of 64.7% from the previous year. However, they peaked in 2017, creating a 3.9-fold difference between the high and low points. By 2020, exports rebounded strongly, with volumes reaching 40.6 K t—a dramatic increase of 193.3% compared to 2019.

Annual dynamics of product's exports from Western Asia in kind, 2017-2020, K t

From 2017 to 2020, the main destinations for molasses exports from Western Asia were Italy, Vietnam, and India. Italy accounted for 25.1% of exports in kind, Vietnam for 19.9%, and India for 12.7%. Together, these three markets made up 57.6% of total export flows during this period.

Structure of product's exports in kind by countries, 2017-2020

World map of product's exports from Western Asia in kind, 2017-2020

Exports in value, K $ US

The value of molasses exports from Western Asia also exhibited volatility over the observed period. The lowest value was recorded in 2019 at 4 091 K $ US, following a decline of 35.1% in 2018. In contrast, exports peaked in 2020 at 10 142 K $ US, representing a substantial increase of 147.9% from the previous year. This created a 2.5-fold variation between the minimum in 2019 and the maximum in 2020.

Annual dynamics of product's exports from Western Asia in value, 2017-2020, K $ US

Between 2017 and 2020, molasses from Western Asia was exported to a diverse range of markets. Even the top three destinations—Italy, Vietnam, and India—collectively accounted for only 47.2% of total export value, indicating a relatively fragmented market structure.

Structure of product's exports in value by countries, 2017-2020

World map of product's exports from Western Asia in value, 2017-2020

Imports molasses to Western Asia

Imports in kind, K t

Molasses imports into Western Asia have been on an upward trend. In 2020, imported volumes amounted to 529.3 K t, showing an increase of 12.2% from 2019. The lowest import level was recorded in 2019 at 471.9 K t, which marked a decline of 9.2% from the previous year. Over the full period from 2017 to 2020, imports grew by 2.3%, with a compound annual growth rate of 0.8%.

Annual dynamics of product's imports to Western Asia in kind, 2017-2020, K t

From 2017 to 2020, the leading sources of molasses imports into Western Asia were Russia, Egypt, and India. Russia dominated with 61.9% of imports in kind, followed by Egypt at 8.8% and India at 6.0%. Combined, these three countries represented 76.8% of total import flows.

Structure of product's imports in kind by countries, 2017-2020

World map of product's imports to Western Asia in kind, 2017-2020

Imports in value, K $ US

The value of molasses imports into Western Asia has risen for the second consecutive year. In 2020, imports reached 97 737 K $ US, reflecting a robust increase of 20.2% compared to 2019. The lowest value was recorded in 2018 at 68 624 K $ US, when imports fell by 8.8%. Over the period from 2017 to 2020, import value grew by 29.8%, with a compound annual growth rate of 9.1%.

Annual dynamics of product's imports to Western Asia in value, 2017-2020, K $ US

During 2017–2020, Russia, Egypt, and India were the top suppliers of molasses to Western Asia in value terms. Russia accounted for 50.9% of import value, Egypt for 10.1%, and India for 7.8%. Together, these three countries made up 68.8% of total imports by value.

Structure of product's imports in value by countries, 2017-2020

World map of product's imports to Western Asia in value, 2017-2020